May 28, 2019 (The Expresswire via COMTEX) — Global Microfluidics Market 2019 report focuses on Microfluidics volume and value at global level, regional level and company level. From a global perspective, this report represents an overall Microfluidics market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
The global microfluidics market was valued at USD 4.552 billion in 2017, and is expected to reach USD 111.95 billion by 2023, recording a CAGR of 17.45% over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by major players, including providers of microfluidic chips, micro pumps, and microneedles. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and rest of the world.
Owing to the strong demand for faster, cheaper, and decentralized diagnostics, and its increasing use in molecular diagnostics, the market for microfluidics is expected to witness healthy growth during the forecast period. Microfluidics deals with the behaviour, control, and manipulation of fluids in a geometrically constrained scale. The increasing incidences of chronic diseases are demanding the use of microfluidics in the healthcare sector. The early detection and personalized treatment of lifestyle diseases have created a demand for this technology, which has gained prominence, in order to cater to the demands of a growing geriatric population.
Thus, the market is mainly driven by the growing pharmaceutical and biotechnology research funding, rising incidences of lifestyle diseases, escalating geriatric population, intensifying demand for point-of-care testing, increasing demand for miniaturized microfluidic chip as it offers lower testing time and improved portability, and growing stem cell and cancer research.
The key players in this market include:
Danaher Corporation, PerkinElmer Inc., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., uFluidix, Dolomite Centre, Micronit Microfluidics, Abbott, F Hoffmann-La Roche AG, Fluidigm Corporation.